EOH subsidiary to dispose of 70 pct of Construction Computer Software

Technology company EOH said its subsidiary EOH Mthombo had entered into a share purchase agreement with RIB Limited. File Image: IOL

JOHANNESBURG - Technology company EOH said on Tuesday its subsidiary EOH Mthombo had entered into a share purchase agreement with RIB Limited, a subsidiary of German-listed RIB Software SE, to dispose of a 70 percent interest in Construction Computer Software for R444.39 million.

The company has also entered into a reciprocal put and call option for the disposal of the remaining 30 percent of the issued ordinary share capital of CCS, a key provider of enterprise software solutions for the construction and engineering industries, after December 2022.

RIB, which leads the digitisation of the construction industry with its software technology, is operational in almost 30 countries.

"CCS’ access to RIB’s broad development network, international business analysts and development teams, will greatly enhance CCS’ growth strategy," EOH said in a statement.